Ask Stacy: I Don’t Have Enough to Retire. What Can I Do?

Maybe you can relate: This reader sees retirement looming but, because she hasn't saved enough, she's afraid her golden years will be anything but. What can she do?

Because Susan is concerned about her financial situation, maybe she’s already aware of many of these stories and tips. In fact, that’s probably why she’s a regular reader in the first place. She’s also recognized what may be the only true solution: “work until I’m 70 years old.”

While that may sound depressing, it doesn’t have to be, because in an ideal world, none of us should be “working” at all.

My dad worked for the government and counted the minutes until he could retire. I, on the other hand, love what I do, which means I don’t “work,” at least in the traditional sense. If I win the lottery today, I’ll still be sitting here tomorrow. Granted, I certainly want to work less as I age, as well as have the option to not work at all if I choose. But what we all should be seeking are careers that keep us coming back for more, especially when retirement is on the horizon. Because, if you use every trick in the personal finance book and still won’t have enough to retire, doing something meaningful and rewarding is the only way your golden years will be golden, both physically and emotionally.

I wish I could provide a magic bullet, a simple solution that would guarantee that those approaching retirement without sufficient savings could lead the life they’ve worked for and deserve. But doing something you love is about the only solution. So if you haven’t found the right job, Susan, start looking. That’s why we have a whole section of this site called Jobs and Work.

Got a question you’d like answered?

A great way to get answers to just about any money-related question is to head to our Forums. It’s the place where you can speak your mind, explore topics in-depth and, most important, post questions and get answers. It’s also where I often look for questions to answer in this weekly column. You can also ask questions by replying to our daily emails. If you’re not getting them, fix that right now by subscribing here.

About me

I founded Money Talks News in 1991. I’ve earned a CPA (currently inactive), and have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate. Got some time to kill? You can learn more about me here.

Got more money questions? Browse lots more Ask Stacy answers here.

Stacy Johnson
Stacy Johnson @moneytalksnews
I'm the founder of Money Talks News and have spent the last 40+ years in the personal finance trenches. I'm a CPA, author of a few books and multiple Emmy recipient. I'm ... More


937 Active Deals

More Deals